H World Reveals $2 Billion Shareholder Return Plan

The Macao Government Tourism Office said the average nightly room rate in Macau's five-star hotel segment reached MOP1,582.4 (US$196.80) in the first half of 2024, up 12.4% year on year and a 96.1% recovery to the first half of 2019. There are also a lot more hotel rooms now than there were pre-Covid. Despite all those additional rooms, Macau's average hotel occupancy for five-star hotels was 91.1% for June, up 5 percentage points year on year and was 90.8% for the first six months of this year, up 10.2 percentage points from a year ago. The average occupancy rate across three, four and five-star hotels for the first six months of this year was 89.6% with an average nightly room rate of MOP1,402.8. As of the end of May, Macau had 45,800 hotel rooms of which 28,300 were in the five-star tier. The number of five-star hotel rooms was up 9.5% from May of 2023. The number of overnight visitors rose 29.1% in the first half of the year, not as much growth as the 59.3 percent increase